NTPC to invest $23 billion to add 20 GW of renewable energy in Madhya Pradesh

• 10 days ago (2025-02-26)
• David Flin

Asia 924 Renewables 786

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NTPC has signed MOUs with the Indian state government of Madhya Pradesh to invest $23 billion in renewable energy projects in the state.

Under the terms of the first MOU signed with Madhya Pradesh Power Generating Company (MPPGCL), $13.8 billion will be invested in the development of up to 20 GW of renewable energy capacity, including pumped storage hydropower, wind, and solar.

NTPC will also allocate $9.2 billion to develop non-fossil fuel power plants in the state, including $460 million to construct an 800 MW pumped storage hydropower plant. The timelines for these projects have not been disclosed.

In addition, NTPC has also announced a $62 billion plan to expand its nuclear power capacity in India to over 30 GW by 2044. NTPC also aims to reach 60 GW of renewable energy capacity.